Invest AD Establishes Operations in Morocco
Invest AD which is owned by the Abu Dhabi Investment Council (ADIC) has opened up an office in Casablanca Finance City. Another organization, AD Capital, an arm of Abu Dhabi’s National Holding has opened up an office there as well. Invest AD is active in investing in Africa and views the city as a prospective gateway into the Greater Northwest Africa. Increasingly, institutional investors who allocate to Africa want to invest with asset managers who have local expertise.
Casablanca, a city in Morocco, is trying to lure financial firms to a 100 plus hectare business district in hopes of stimulating a regional finance center. Established in 2010, Casablanca Finance City has attracted firms like Clifford Chance, Boston Consulting Group, and McKinsey. The Moroccan Financial Board is responsible for managing Casablanca Finance City.
Nazem Fawwaz Al Kudsi, Chief Executive Officer at Invest A.D., said in a recent press release:
“Global institutional investors are looking to deploy more capital in Africa, and want asset managers with on-the-ground expertise. We believe Casablanca is an excellent base in Africa because of its geographical position, stability and its fast developing ecosystem of international financial institutions.”